Shareholder Activism
Goodmans is the market leader in shareholder rights and activism mandates. Our lawyers deliver timely, creative and pragmatic solutions agreeable to all parties. With a reputation for collegiality in circumstances that can be contentious, our lawyers model constructive dialogue that often circumvents major escalation and leads to optimal dispute settlements.
At the same time, we have been extremely effective in winning protracted proxy contests for activists and boards where the only practical solution is to fight. We have time-honoured relationships with leading proxy solicitation firms, investor relations firms and media relations experts in Canada and internationally and are the leading recipient of referrals from other law firms in Canada and abroad.
In pioneering novel strategies to achieve our clients’ objectives, Goodmans has evolved shareholder activism market practices in Canada. We were the first in Canada to use Twitter and YouTube in a proxy campaign to reach a broad shareholder base.
Clients turn to us to add strong presentation, tactical and interpersonal skills to their team. We provide a steady voice and the ability to work with, and help lead, a team of principals and advisors in an environment that is often emotional and subject to tight and aggressive deadlines. We recognize the unique elements of each situation and carefully analyze the relevant considerations.
Our solutions meet the broad needs of boards and activist investors and include director nominations, meeting requisitions, shareholder proposals, proxy contests, unsolicited take-over bids, the use of strategic and tactical litigation and regulatory applications and settlement negotiations.
Explore People in Shareholder Activism
Meet our teamFeatured Work
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Shareholder Activism
Plantro Ltd. announces Tender Offer for up to 15% of Information Services Corporation’s voting shares
Goodmans LLP advised Plantro Ltd. in connection with a Tender Offer involving the acquisition of up to 15% Class A Limited Voting Shares of Information Services Corporation (the “Company”), at a price… -
Shareholder Activism
Algonquin Power & Utilities Corp. appoints new directors to Board and extends cooperation agreement with Starboard
Goodmans LLP advised Starboard Value LP (“Starboard”) in connection with the extension of cooperation agreement with Algonquin Power & Utilities Corp. (“Algonquin”), pursuant to which, Algonquin… -
Shareholder Activism
Board of Quipt Home Medical enters cooperation agreement with Kanen Wealth Management
Goodmans LLP represented the Board of Quipt Home Medical Corp. (or the “Board”) in connection with a notice from Philotimo Fund LP, an entity affiliated with Kanen Wealth Management LLC, announcing… -
Shareholder Activism
Roivant Sciences Ltd. announces resignation and replacement of Arbutus’ entire Board
Goodmans LLP acted for Roivant Sciences Ltd. in connection with its successful removal and replacement of all members of the Board of Directors of Arbutus Biopharma Corporation (or the “Board… -
Shareholder Activism
WonderFi Technologies Inc. announces board reshuffle
Goodmans LLP acted for the Board of Directors of WonderFi Technologies Inc. (or the “Board”) in connection with the restructuring of the WonderFi Board of Directors… -
Shareholder Activism
Browning West participates in the recruitment of CAE’s new CEO
Goodmans LLP acted for Browning West, LP in connection with its successful campaign to remove and replace certain members of the Board of Directors of CAE Inc. (including the Chair of the Board) and…
Insights
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Capital Markets
Clarification on Rules Relating to the Removal of Directors by Shareholders
In OneMove Capital Corporation v. Dye & Durham Limited (“OneMove v. D&D”), the Ontario Superior Court of Justice (the “Court”) held that shareholders may not submit a proposal under section… -
Shareholder Activism
'The Shareholder Activism Phenomenon is Strong and Will Remain Strong for the Foreseeable Future', Lexpert
In a recent article for Lexpert.ca, author Jonathan Feldman discusses the state of shareholder activism in Canada and delves into what's top-of-mind for him as we head into the 2024 proxy… -
Shareholder Activism
Canadian Securities Administrators Seek Public Comment on Activist Short Selling
The Canadian Securities Administrators (CSA) recently issued a consultation paper (the “Consultation Paper”) seeking feedback on a broad range of issues related to “activist short selling”. Activist… -
Litigation and Dispute Resolution
Advance Notice By-Laws – A Canadian Shield
In BlackRock Credit Allocation Income Trust v. Saba Capital Master Fund, Ltd., the Delaware Supreme Court recently provided guidance on the validity of supplemental disclosure obligations imposed on… -
Capital Markets
Glass Lewis Releases 2020 Canadian Proxy Voting Guidelines
Proxy advisor Glass, Lewis & Co. recently released its 2020 Canadian Guidelines to Proxy Advice. These policy guidelines generally apply to shareholder meetings beginning in 2020, and the… -
Capital Markets
The Legal Status of Board Observers in Canada
As part of an equity investment or financing transaction, investors often seek the right to appoint a board observer in addition to or in place of receiving an actual seat on a company’s board. These…
Awards & Recognition
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Diligent Market Intelligence #1 Canadian legal advisor by total representations, 2024 2024
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Diligent Market Intelligence #1 Canadian legal advisor by total issuer representations, 2024 2024
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Bloomberg Global Activism League Tables #2 Canadian legal advisor to activist investors in Canada table, H1 2024 2024
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Bloomberg Global Activism League Tables #1 Canadian legal advisor to activist investors in Utilities table, H1 2024 2024
News & Events
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Shareholder Activism
Jon Feldman interviewed in “IN-DEPTH: Q&A with Goodmans”, Diligent Market Intelligence
Goodmans partner Jon Feldman recently sat down with Diligent Market Intelligence to discuss the evolving activism landscape in Canada. The article, “IN-DEPTH: Q&A with Goodmans” captures his… -
Shareholder Activism
Goodmans Shareholder Activism Group Recognized by Diligent Market Intelligence
We are pleased to announce Goodmans Shareholder Activism Practice is recognized as the #1 Canadian Firm by Total Representations and #1 in Total Issuer Representations in the 2024 Diligent Market… -
Shareholder Activism
Jon Feldman at the Capital Markets Tribunal Adjudicators’ Policy Forum
On November 20, 2024, Jon Feldman, Head of Goodmans Shareholder Activism practice, spoke at the Capital Markets Tribunal Adjudicators’ Policy Forum on a panel that discussed Emerging Issues in…